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SETTL, a leading full-stack co-living operator, is planning to expand its operations to Pune, Noida, and Chennai after establishing a strong presence in Bengaluru, Gurugram, and Hyderabad. With a focus on providing quality rental accommodation to working professionals, SETTL aims to become the top player in the premium co-living segment. The company has witnessed significant revenue growth and targets a revenue of Rs. 41 crore in the coming year, along with plans to offer 5000 beds. Despite the challenges faced by the co-living segment during the pandemic, SETTL is optimistic about the increasing demand for rental accommodation as people return to work from their hometowns.
SETTL, a full-stack co-living operator is look to expand its operations to Pune, Noida and Chennai. Having successfully established itself in Bengaluru, Gurugram and Hyderabad by providing quality rental accommodation to working professionals, the company is looking to strengthen its brand across India.
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SETTI aims to become the number one player in the premium co-living segment after garnering healthy revenue, which rose almost three times within a span of one year. The revenue targeted for the coming year is around Rs. 41 crore along with an expansion plan to grow to offering 5000 beds. Several properties and buildings have been shortlisted, however a deal is yet to be finalised in the newly identified cities.
SETTL acquires buildings for a long term on lease and provides community and co-living solutions to working professionals along with some other benefits. The company has about 2000 beds across 40 centres in Hyderabad, Bengaluru and Gurugram. The company currently charges between Rs. 12,000 and Rs. 18,000 per bed in Bengaluru.
The co-living segment suffered due to closure of offices and educational institutions after the pandemic which did not give a chance to expand accommodation for the working people. Now that everything is getting back to normal and offices are bustling with employees with routine work , the need for rental accommodation has increased as people are returning to work from their hometowns.
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